An official from the commission said the six companies held 53 rounds of "crystal conferences" or meetings between 2001 and 2006, claiming these were to exchange information on the global LCD (liquid crystal display) panel market.

"Those involved turned out to have negotiated prices or manipulated prices [of the screens], hampering legitimate rights and interests of other parties and consumers," the official said.

Out of the total fine, 172 million yuan (US$27 million) was paid as a refund to nine Chinese TV makers, including Konka Group, Changhong Electric, Skyworth Group and TCL Corp, Yonhap reported.

Samsung and LG were hit with the biggest penalities, with a fine of 101 million yuan (US$16 million) and 118 million yuan (US$18 million), respectively.

Sales of 5.15 million pieces of LCD panel in China during the period were recognized under the monopolistic behavior in the case, among which 826,500 pieces were sold by Samsung while 1.93 million were sold by LG Electronics, according to aSina News report on Friday.

The commission said Samsung, LG and the four Taiwanese companies have committed to strictly abide by the Chinese laws, engage in a fair competition and extend the unpaid warranty service period for China's domestic TV makers to 36 months from the previous 18 months, the report noted.

A spokesperson from LG Display, an affiliate of LG Electronics, said the company is focused on its efforts to block price-rigging. "To prevent a recurrence of such problems, LG Display has been mending policies and executing them, and remains committed to operating with compliance and transparency," he said.